Slide 1: Siltronic – a leading producer of silicon wafers
Siltronic – a leading producer of silicon wafers Q2/2016 Results © Siltronic AG 2016
Slide 2: Highlights Q2/2016: Financials
Highlights Q2/2016: Financials Sales of 229.6 mn EUR (Q1/2016:220.6 mn EUR) Sales Growth of 4.1% 35.1 mn EUR (Q1/2016: 23.6 mn EUR), EBITDA Without negative FX effects* EBITDA would have been 37.8 mn EUR EBITDA margin of 15.3% (Q1/2016: 10.7%) Margin Without negative FX effects* EBITDA margin would
Slide 3: Market Update
Market Update GDP GDP growth in China continued at 6.7% y-o-y in Q2/2016 U.S. economy grew with 2.1% y-o-y in Q1’16, compared to 2.0% y-o-y in Q4’15 Eurozone GDP growth in Q1/2016 was at 1.7% y-o-y, stable vs. Q4’15 Silicon market Wafer market in Q2/2016 was ~5.8 bn cm²/month, 6.6% up q-o-q
Slide 4: Sales development driven by sequentially higher wafer volumes
Sales development driven by sequentially higher wafer volumes Sales, in EUR mn Comments +4.1% Positive 246.7 • Volume growth q-o-q 230.6 229.6 • Favorable product mix 215.3 220.6 • Price pressure softened in Q2 vs. Q1 • ASP more or less flat Q2 vs. Q1 • Some tailwind from strong JPY • Prices expec
Slide 5: EBITDA increased
EBITDA increased EBITDA, in EUR mn Comments 15.3 Positive • Volume growth q-o-q 12.7 12.7 • ASP Q2 flat q-o-q 10.8 10.7 • Hedging losses* decreased by 14.9 mn EUR to -2.7 mn EUR y-o-y 35.1 • Cost reduction on 31.4 29.3 23.6 track 23.2 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 EBITDA EBITDA margin *o
Slide 6: EBITDA excluding FX effects 16% in Q2/2016
EBITDA excluding FX effects 16% in Q2/2016 EBITDA excl. FX effects*, in EUR mn 19.9 19.4 Comments 16.4 FX effects due to hedging 15.7 15.1 • Negative EUR 17.6 mn in Q2/2015 • Negative EUR 9.7 mn in Q1/2016 49.0 • Negative EUR 2.7 mn in 44.8 Q2/2016 37.8 33.7 33.3 • Positive effects of strong JPY o
Slide 7: JPY development impacts other operating income and expense
JPY development impacts other operating income and expense exchange rate development 1,11 1,10 1,13 1,11 Comments 50% of JPY exposure hedged via forwards at EUR/JPY exchange rate of ~135 2015 Q1 2016 Q2 2016 current At EUR/JPY of ~115 hedging EUR/USD losses of around 10 mn EUR Original forecas
Slide 8: Equity ratio of 31% and strong net cash position of EUR 151 mn
Equity ratio of 31% and strong net cash position of EUR 151 mn Balance sheet, in EUR mn Jun 30, Dec 31, Comments Equity and Jun 30, Dec 31, Comments Assets 2016 2015 Jun 30, 2016 liabilities 2016 2015 Jun 30, 2016 Non-current 571.8 579.1 Equity 323.6 497.3 PP&E 536.6 542.9 Siltronic 329.5 500.5 28 i
Slide 9: Pension provision increased due to lower interest rates
Pension provision increased due to lower interest rates Pension provision, in EUR mn 473 Comments 429 379 Changes in interest rates 328 influence evaluation of 292 294 299 pension provision Change in interest rates directly reflected in equity 185 (OCI) Additional payments into pension scheme
Slide 10: Payments for CapEx above average in H1/2016
Payments for CapEx above average in H1/2016 Cash flow, in EUR mn Comments CapEx for investments in state-of-the-art crystal Q2/2016 Q1/2016 Q2/2015 pullers and further automation of production Cash flow from operating activities 19.1 28.8 14.9 sites Payments in Q1 partly relate to CapEx in 2015
Slide 11: Siltronic Outlook 2016 as per July
Siltronic Outlook 2016 as per July EBITDA margin slight improvement ROCE in the low to mid single-digit percentage range (Update) Free Cash Flow clearly positive, but below 2015 Sales year-on-year decrease in the low to medium single-digit percentage range; strong JPY helps R&D unchanged at approx.
Slide 12: Contact and Additional Information
Contact and Additional Information Issuer and Contact Additional Information Siltronic AG ISIN: DE000WAF3001 Hanns-Seidel-Platz 4 WKN: WAF300 D-81737 München Deutsche Börse: WAF Listing: Frankfurt Stock Exchange Investor Relations: Prime Standard Petra Mueller Tel. +49 89 8564-3133 Financial Calenda
Slide 13: Disclaimer
Disclaimer The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements contained in this presentation may be statements of future expectations and other forward-looking statements that are based on management's